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CMHC tightens lending standards to protect housing market during COVID-19

from InBrampton

CMHC tightens lending standards to protect housing market during COVID-19 InBrampton The Canada Mortgage and Housing Corporation is tightening its lending standards, making it tougher for Canadians to borrow money to purchase a home. The country's national housing agency says it's changing the credit score needed to get mortgage insurance to 680 from 600 and limiting the gross and total debt servicing ratios to 35 and 42 respectively. READ MORE

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